Chevy Chase Trust Holdings LLC Increases Position in Airbnb, Inc. $ABNB

Chevy Chase Trust Holdings LLC raised its position in Airbnb, Inc. (NASDAQ:ABNB) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 228,376 shares of the company’s stock after purchasing an additional 1,352 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Airbnb were worth $30,223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Airbnb by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 37,462,629 shares of the company’s stock valued at $4,475,286,000 after purchasing an additional 604,120 shares during the last quarter. Harris Associates L P increased its position in shares of Airbnb by 86.0% in the 1st quarter. Harris Associates L P now owns 9,944,948 shares of the company’s stock valued at $1,188,024,000 after purchasing an additional 4,598,125 shares during the last quarter. Northern Trust Corp increased its position in shares of Airbnb by 2.5% in the 1st quarter. Northern Trust Corp now owns 4,402,970 shares of the company’s stock valued at $525,979,000 after purchasing an additional 106,135 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Airbnb by 81.0% in the 1st quarter. AQR Capital Management LLC now owns 4,282,523 shares of the company’s stock valued at $500,755,000 after purchasing an additional 1,916,676 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Airbnb by 74.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,255,682 shares of the company’s stock valued at $388,924,000 after purchasing an additional 1,389,251 shares during the last quarter. 80.76% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Airbnb

In related news, CFO Elinor Mertz sold 4,630 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $128.42, for a total transaction of $594,584.60. Following the completion of the sale, the chief financial officer owned 444,070 shares in the company, valued at $57,027,469.40. This represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Aristotle N. Balogh sold 600 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $120.46, for a total transaction of $72,276.00. Following the sale, the chief technology officer owned 197,806 shares of the company’s stock, valued at approximately $23,827,710.76. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,666,876 shares of company stock worth $210,819,940 in the last quarter. 27.91% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on ABNB. Wells Fargo & Company set a $110.00 price objective on shares of Airbnb and gave the company an “underweight” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Airbnb from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Morgan Stanley lowered their target price on shares of Airbnb from $130.00 to $120.00 and set an “underweight” rating for the company in a report on Thursday, August 7th. BNP Paribas upgraded shares of Airbnb to a “hold” rating in a report on Wednesday, July 16th. Finally, Phillip Securities upgraded shares of Airbnb from a “moderate sell” rating to a “hold” rating in a report on Friday, August 8th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, nineteen have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Airbnb has an average rating of “Hold” and a consensus target price of $141.81.

Airbnb Price Performance

Shares of NASDAQ:ABNB opened at $125.91 on Friday. The stock has a market cap of $78.25 billion, a P/E ratio of 30.49, a P/E/G ratio of 2.24 and a beta of 1.10. The firm has a fifty day moving average price of $123.99 and a 200 day moving average price of $127.27. Airbnb, Inc. has a 1-year low of $99.88 and a 1-year high of $163.93.

Airbnb (NASDAQ:ABNB) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.11. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Airbnb had a net margin of 22.67% and a return on equity of 32.19%. Airbnb’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 EPS. Sell-side analysts expect that Airbnb, Inc. will post 4.31 EPS for the current fiscal year.

Airbnb Company Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.